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Does anyone know the requirements of starting an event planning business in the home?

Hello,
I was wondering if you all had any advice as to what I would need to apply
for and file (as far as taxes go) for an event planning business. I have
written a business plan and have written some contracts that I have had an
attorney look at. I have applied for an EIN. I will apply for a DBA and
articles of organization tomorrow. I plan on selling a few items like floral
centerpieces from my business. My business is also operated exclusively in my
office at the home. I was wondering do I need to apply for a Federal Tax ID,
sales permit, license, any zoning permit or insurances for my home (in
Brazoria County,Tx) that I need to be aware of? Is there any record keeping,
book keeping or accounting software that you can suggest? Also, what type of
taxes do I need to file for the business being 1 of 2 members with no
employees of an impending LLC? I plan on expanding into an office space next
year and may hire one assistant to work as a receptionist. What are the steps
for hiring an employee? Should I apply for a trademark and do I need to file
something with the NAICS system? Do I need to file a copyright for a blog?
What State filing taxes should I be aware of? Any home based or county based
zoning regulations I should be aware of?
I would greatly appreciate any help. I have been reading all day and night
and I understand these processes but just need to know if they apply to me or
not. Thank you.

likedopen | Window Shopper |
10/2/2013 - 2:53 am

Hi Wubell, about question "What are the steps for hiring an employee?". I
have experiences and suggest you some things. Firstly you could visit
recuitment websites and find persons with approciate CV, position here.
Sencondly you hold interviews with your candidates and choose right ones.
Thirdly you and he/she sign the contract with all terms. Hope that's useful
to you.

wubell | Window Shopper |
10/1/2013 - 2:48 pm

Thank you so much!!! This helps a ton!! On the EIN, I did put down the
assumed name of the business and I just filed for formation and registration
of a name with the State. I hope that it will be okay. I am on my way to
filing my DBA with the county clerk. I will keep you updated with any more
questions I may have.

bizplanmentor | Window Shopper |
10/1/2013 - 5:01 pm

Show Replied Text…

Thank you so much!!! This helps a ton!! On the EIN, I did put down the assumed name of the business and I just filed for formation and registration of a name with the State. I hope that it will be okay. I am on my way to filing my DBA with the county clerk. I will keep you updated with any more questions I may have.

It is so refreshing to see an entrepreneur taking all the right steps and
asking excellent questions while attempting to start a new business.
Bizresearcher has given you excellent advice already. I just want to wish you
great success with your event planning business.

JGabriel | Community Moderator |
10/9/2013 - 1:23 pm

Show Replied Text…

It is so refreshing to see an entrepreneur taking all the right steps and asking excellent questions while attempting to start a new business. Bizresearcher has given you excellent advice already. I just want to wish you great success with your event planning business.

I agree, bizplanmentor! Wubell, please let us know if you have any other questions.

wubell | Window Shopper |
10/2/2013 - 2:36 pm

Show Replied Text…

It is so refreshing to see an entrepreneur taking all the right steps and asking excellent questions while attempting to start a new business. Bizresearcher has given you excellent advice already. I just want to wish you great success with your event planning business.

BizResearcher | Window Shopper |
10/1/2013 - 12:41 pm

You asked about copyright - your blog is automatically copyrighted as soon as
you write it. However, it never hurts to include a disclosure statement in
your profile that indicates that all original material is copyrighted.

You can apply for a trademark of your logo and/or business name with your
state office that registers trademarks after you have used the logo and/or
name in business for a period of time. You will first need to check records
to be certain no one has already trademarked the name or logo or a very
similar one.

You don't do anything with a NAICS or an SIC code. They are established by
the government. You may need to know the codes that apply to your business
type, however.

BizResearcher | Window Shopper |
10/1/2013 - 12:43 pm

I have owned a home-based event planning business for many years. I am not
located in Texas, so I can provide only general information about
requirements in many areas of the country. First things first - you should
have filed your LLC before applying for an EIN or any other permits. They
need to be issued in the business name, not your name. If issued in your
name, you may have already pierced the veil of protection afforded by being
an LLC.

If Texas collects sales tax, then you need a sales tax permit if you sell
products. I don't need one because I don't sell anything other than my
services, which is not taxed. If your city or county licenses businesses, you
need to secure a business license from your city or county clerk's office.
The city clerk should also be able to tell you if you need a home occupation
permit or if there are any zoning issues you need to be aware of. The biggest
issue may be people coming and going from your home and parking. To reduce
these issues, and for your personal safety, it is better to meet first-time
clients at their offices or at a coffee shop. Be very careful about going
into someone's home by yourself. You just never know what you may encounter.

You need insurance. First check with your homeowner's insurance company to
find out if they will cover your business. Most won't because the events you
are working do not occur at your home. However, your insurance agent may be
able to recommend a company that specializes in small business insurance. I
contacted an independent insurance agent who represents multiple companies.
He was able to locate the best priced policy for me. Be aware that many
venues will ask you for a copy of your insurance before they will allow you
to book an event at their facility.

You need a bank account and good record keeping. I use QuickBooks. If you are
a single person LLC, you have the choice to report your taxes like a sole
proprietor, by filing a Schedule C with your personal taxes, or like an
S-Corp. You may also need to file estimated taxes quarterly. You will pay
self-employment tax when you file your taxes. It is a business owner's
version of Social Security and Medicare tax. You may want to spend some time
on the IRS website in their small business section. You will find tons of
helpful information.